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Just two blue chip European stocks gained last week, for very different reasons

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The Stoxx Europe 600 lost almost 12% last week to post its worst five-day run since the financial crisis in 2008. However, two of the 600 companies listed on the European blue chip benchmark emerged in the black.

London-listed shares of NMC Health jumped 9.7% over the week, but the Abu Dhabi-based hospital chain is fighting for its life and was forced to suspend trading of its shares on Thursday.

The company's bosses have since become embroiled in an accounting and governance scandal. Last week, NMC Chief Executive Prasanth Manghat was removed with immediate effect, and the company faces an investigation by the U.K. Financial Conduct Authority .An independent internal investigation, led by former FBI director Louis Freeh, of the company's books found a host of undisclosed loan agreements related to companies owned by its founder, Indian businessman B.R. Shetty.

"NMC is currently fully focused on safeguarding operational liquidity to continue funding existing operations throughout its various subsidiaries," the announcement said.

 

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Groupe SEB and NMC Health... Both are health stocks and Corona is right at the corner. Cheers

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